ASIC has released its Corporate Plan for 2022-26, outlining its strategic priorities for the next four years and its plan of action for the year ahead.
ASIC’s four external strategic priorities are:
- product design and distribution
- sustainable finance
- retirement decision making, with a focus on superannuation products, managed investments and financial advice, and
- technology risks, with a focus on digitally enabled misconduct.
ASIC’s Corporate Plan describes eight core strategic projects that set out the action ASIC plans to take to advance these four priorities:
- sustainable finance practices and disclosure of climate risks,
- addressing market integrity issues and investor harms in relation to crypto-assets (or cryptocurrency),
- disrupting and combatting financial scams to protect consumers,
- cyber and operational resilience,
- breach reporting,
- design and distribution obligations,
- better use of data and technology and,
- subject to the passage of legislation, the Financial Accountability Regime.
ASIC’s actions with respect to FAR will include:
› developing guidance and external engagement forums for industry;
› implementing a coordinated risk-based approach to registration activities under the regime
› increasing its focus on individual accountability in its regulatory and enforcement approach.
If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.
Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
